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Chairsatan Isn't Worried About Inflation - Should You Be?
If you listened to Ben Bernanke's testimony between last week and this week, you were told repeatedly that he is not worried about inflation.
Here are some charts that his analysts must have missed - Perhaps they're spending their time hanging out with the SEC boys surfing the web, but either way they should probably bring these to Ben's attention sooner rather than later.
Not Money's Reaction to Ben Today
Not Money's Performance Since Bernanke Began In 2006
EUR/USD Since Bernanke Began In 2006
Oil's Performance - The Most Stealth Tax of All... "Transitory" of Course
And Finally, M2 -- But Don't Worry, They Have Mechanisms In Place To Pull This Back (wink)
On second thought, I think Ben is right - no inflation is around the corner. Sleep well America.
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you really meant charlatan right?
I AM concerned about inflation because I trade the commodity markets every day!
Tyranny is HERE! It has found a home in America!
"Americans should just go on living their lives" - Ben Bernanke
Comments like these really are an insult to the people out there who don't get driven every where in a nice limo, who actually pay for their gas and food, and who actually do work, and not pontifiicate that things are getting better via spreadsheets with fudged numbers.
I mean, this is the main reason why the Fed Reserve needs to go. The heads of each bank really have no idea, no clue, and really, no morality towards what their monetary policies do for the populace. I mean, most of these motherfuckers OWN gold (Richard Fisher, the same FOMC head who agrued for MORE Chinese made shit) and some in governemnt even HEDGE against Treasuries (like Eric Cantor).
Rickards' best seller, "Currency Wars" writes the devaluation wars are just beginning between the dollar, Chinese yuan and the euro:
http://www.amazon.com/Currency-Wars-Making-Global-Portfolio/dp/1591844495
If I were Ben I would print hundreds of millions of quadrillions of hundred dollar bills and then give them to all my friends.
Oh wait, THAT IS what he's doing...
quadrillions.
You said quadrillions when talking about dollars.
That isn't said very often. At the moment. Soon, saying quadrillion will be like saying trillion. And then we'll be talking about quintillions.
No inflation? Yea....right.
It'll be a shame when average americans learn that google is a number. It'll be a real shame when it's printed on a piece of green paper.
I make $7 an hour. I work for 8 hours a day, 5 days a week. I drive an hour to work.
I make $56 per day before taxes, $40 per day after taxes. Gas cost me $50 per day. 50-40=10. 10x5=50.
On top of all my other bills, it cost me $50 per week to go to work. But statistically I'm employed. Statistics never lie.
I would save $200 per month if I just stayed home.
If I add the cost of paying off the loan for my vehicle, insurance, maintenance, registration and smog fees, tires, repair costs, purchase price tax on the vehicle, road and bridge tolls, CHP radar gun tax, etc, then I would say that more realisticly I would save $500 to $1000 per month if I just stayed home.
Hell by saving that much money, I could afford to buy a home.
But I can't complain about the government. That would make me a terrorist, and they would send me to Guantanamo
at Guantanamo, you make minimum wage, you don't have to drive, food is free, you probably don't have to pay any tax. Go for it. By the way, Bernanke belongs to Guantanamo too.
If you were sent to Guantanamo you wouldn't need to buy a home. Sounds like a great financial plan to me. Not only would you be saving "$500 to $1000 per month", but you food, clothing and medical care would also be free. That's on a par with collecting Social Security or welfare/SNAP, being on Medicare or Medicaid, and having to pay one's own bills. So go ahead, complain.
Good thing you are still somehow paying your cable/Internet bill, otherwise we wouldn't know about your pain.<\SARC>
The Fed is a one trick pony that hasn't done anything but blow bubbles for the past 20 years. Each bubble gets bigger and pops faster.
The Fed, politicians, the media, and the markets all have a vested interest in pretending everything is fine and every problem has a simple painless solution.
Ben is out of a job is Obama loses - so it's likely they will "print and spin" through November. If the markets hold up that long is to be seen.
The bubble will burst again. Extend and pretend is nearing its limits.
What to see America's future? Visit Japan.
Japan? ha, try Somalia. We'd be lucky to end up like Japan.
The US is the pachyderm in the room. It will bring everything else down if the dollar were to fail. So it can't happen.
Will be be getting the wonderful honored forever melting down nuke powerless plants [GE TM] as well?
I need something to look forward to.
I have my COINTELPRO goggles on while reading the following http://kauilapele.wordpress.com/2012/02/06/benjamin-fulford-2-7-12-the-takedown-of-the-satanic-cabal-is-proceeding-smoothly/ “Despite widespread pessimism on the part of many truth seekers about the situation in the G5 terrorist states, behind the scenes the satanic cabalists in control of the Western central banks are in a state of extreme fear. One reason is that US Defense Secretary Leon Panetta told a White Dragon Society representative last week that the Pentagon and the US agencies were in no mood to let off the cabalists with a truth and reconciliation committee. “We have been watching these guys for a long time” he said and the conclusion reached was that Federal Reserve Board needs to be dismantled and the cabalists jailed.”Highlights
I know leon pannetta, and he is no chinese citizenism roadside shitter nosepicking runningdog. However, he is ONE OF THE CABAL so the rest of the story is it's more bullshit.
We belive in a strong dollor policy.... Remember those days... John Snow where are you? LOL frickin financial terrorist
SNAP cards for all !
US citizenism does not let room for self indiction.
BenBernanke is a US citizen. He will never self indict beyond what self criticism allows him to do (self criticism being the admission of 0.1pc of the negative consequences of your actions, so you do not lose all credibility by denial everything and anything)
Bernanke wont stand up for all the consequences of his inflationary decisions. He cant simply do that.
Taking responsibility for such decisions and their consequences is simply un US citizen.
nosepicking roadside shitting chinese citizenism hoarding rare earth scum running dog. Yep.
I stand in awe of the perfection of your Chinese citizenism trolling.
As Stoolman Mousy Tongue stated in his Petite Crimson Book: "There is no escaping for the round eyes from the mind-numbing worldwide reach of running dog Chinese citizenism."
Find friends who raise cows. Bought a quarter ($350) this past fall, 100% grass fed...another on the way in October. Great inflation hedge. Good for you too.
Congratulations. There are now twelve Federal agencies planning SWAT raids once they find you. Moreover, PETA is going to haul you before the World Court on charges of enslaving the cow. They have rights, too, just like killer whales and Michelle.
Congratulations. With "killer" and one of the other words you listed, you too are about to have a visit from a government agency.
Using M2 to gauge inflation is as flawed as using M3 or M1 or MZM
M2 components-
http://research.stlouisfed.org/fred2/categories/29
Just to use two of the components-
Savings deposits have increased by 2 trillion in a just a few years-
http://research.stlouisfed.org/fred2/series/SAVINGS?cid=29
But savings deposits are effected by sweeps-which distort true savings-
Sweeps being what are checking deposits that are swept daily into savings deposits so that banks can avoid the 12-1 reserve requirements-
M2 also contains money market deposit accounts and cannot/should not be counted in money supply growth-
http://research.stlouisfed.org/fred2/series/WRMFSL?cid=29
Meanwhile M2 velocity has collapsed-
http://research.stlouisfed.org/fred2/series/M2V
Just a note to remark upon what high quality your posts are Jimmyjames. You always deliver.
I wonder how many of the "elite" governing class that say there is no inflation and that we don't need a gold back currency are doing PM purchases for themselves?
They drive down the cost of GLD and SLV by printing paper stock reciepts or simply entering numbers into a computer. Then they buy PHYSICAL Gold and Silver. And can't be that difficult to understand now could it?
The rhetoric is pure gamesmanship meant to calm the frog for the bath of boiling water. Banks fair better w/ inflation because it makes existing loans cheaper, and the ultimate bail out in their eyes. The Fed WANTS inflation – no question.
Hell, inflation bails out the debtor, the largest being our government.
And you are right, the banks like it because it means their current management does not have to report bad debt losses so they get their bonuses.
Homeowners like it because it turns a house into an ATM machine.
Corporations like it because it makes a weak dollar and therefore easier exports.
....now retirees....well, who cares....they are no longer of use to the system and are just a drain of resources.
Soilent Green is retired sheeple!
Bernanke style:
Soylent Green is ..... PAPER!
Nice work crown.
Ron Paul: The Coming Chaos
http://www.youtube.com/watch?v=Q7ZlxvDqYJY&feature=g-all-u&context=G2d4bc13FAAAAAAAAIAA
Uploaded by americanbandwidth on Feb 7, 2012
Heed These Words!!
Excellent post, JW. Thanks.
let it burn
2% inflation takes about 50% of your savings over 30 years.
What is there to worry about?
And all that lost compounding of SSA payments. Makes my eyes bleed.
I just arrived back in the states from Brazil and am finding it so much more expensive. I found some old receipts from restaurants that we still frequent and it's 20% more expensive from a few years back, at least.
....just like dropping a frog into apot of already boiling water....it notices it, unlike the frog slowly warmed up....
I think "Ctrl-P" has lost his mind.
The world is awash in liquidity that is not being lent out... yield curves make no sense... Greece and Europe along with the international banking system is on the verge of collapse.
TO THE CONTRARY...
The working class economy is going to collapse. We will be raped, pillaged and plundered.
The high class economy will be doing better than ever.
Think about it.
They own all the land, timber, mineral rights, precious and rare metals, petroleum, farms, ranches, homes, businesses, computer companies, etc AND they are all heirs to highly leveraged 100:1 derivitive contracts THAT WILL PAY OUT. Ben will make sure of that,
I'm sure you've heard of the term "social unrest". Do you actually think that we are going to be unscathed once the collapse comes?
You should change your moniker to "Ctrl-BD" for Brain Dud.
Well said new alien-IQ!
Bernanke does not need to worry about inflation. He hasn't done his own grocery shopping or put gas in his car in at least 3 decades. When one lives on an expense account, the cost of such trivial things are of minor fucking significance.
Those of us that from time to time need to put food on the table and gas in our cars might want to consider being more than a little concerned. But we are merely pawns in this game of ponzi. Our fate is of no importance whatsoever....Until we start looking at the Bernankes and Dimons and Blankfeins of the world as a potential meal...then they'll pay attention.
There was a TV programme here in the UK some months ago where politicians were asked if they knew the price of a pint of milk - not ONE of them knew.(I don't have a link unfortunately)
DavidC
I don't eat kosher....
i saw a commodities trader on cnbs last week, a real old fashioned texan shooting straight from the hip. "Most americans won't be able to afford meat" ,,,,"so most of our meat is going overseas"......
Eh, for the price of a decent rifle or shotgun and some ammo, I can go get meat from nature. No middle men.
What are ya worried about? Rick Gingromney will solve all the current USA problemz for the Ignorati!
But they brought back horse slaughter- tastes like beef!